Semeta: Lithuania would benefit from tax on financial transactions

Algirdas Semeta, commissioner for taxation, customs, anti-fraud and audit, says that Lithuania would benefit from a widely used tax on financial transactions as proposed by the European Parliament.

Thursday he said to reporters in
Brussels that at the moment the European Commission is waiting to hear from the
member-states which had announced their willingness to take part in the
enhanced cooperation procedure. The member-states have to show now at what
extent they are ready to cooperate and what their goals are, writes LETA/ELTA.

"What concerns Lithuania, the
country is on the list those member-states that said they would make a decision
when they see a concrete proposal. Lithuania does not rule out a possibility of
joining the enhanced cooperation procedure. Looking at the bigger picture, this
is one of the symbols of the EU which should demonstrate how much member-states
are ready for a closer cooperation. I believe that such country as Lithuania
would win from an enhanced cooperation in the union. Therefore, given the scope
of the financial sector in Lithuania, the tax would not be a big burden on it.
This is a way for Lithuania to show its wish to cooperate more
extensively," the commissioner said.

Semeta said that a total of 11
member-states support the financial transactions tax. Eurobarometer polls have
revealed that 66 percent of Europeans are in favour of introducing the tax.

“Knowing entrepreneurship”: challenges for the Baltics’ authorities There at least two main world’s resources for analysing entrepreneurship: the World Bank yearly reports “doing business” and the OECD regional/national analysis. For already eight years the Amway reports are becoming popular as well. These reports make policy makers better understand the ways to assist business.